Property profile

7800 Sommer St Peoria, IL 61615

OFF-MARKET
Commercial real estate
Property ID
US28-1887917
3.14 ac lot
Entity Owned Absentee Owner ~ Est. High Equity
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Property summary

AI-generated overview

Parkway Plaza, located at 7800 N Sommer St in Peoria County, offers exceptional coworking and retail opportunities. This Class B property, built in 1999, boasts a total of 25,000 square feet on a 7.16-acre lot, zoned C-2. Currently, five individual units are available for lease, ranging in size from 1,200 to 1,763 square feet. The spaces are in excellent condition, with several move-in ready, providing immediate occupancy for businesses. The property features a convenient storefront design, ideal for maximizing visibility and foot traffic. Ample parking is available both in the front and rear of the building, ensuring convenient access for tenants and their clients. The strategic location offers direct access to the Rock Island Trail, providing a pleasant amenity for employees and visitors. Competitive rental rates are available, making this an attractive investment for businesses seeking a prime location in North Peoria. The property's multiple tenancy structure allows for flexibility and diverse occupancy. This retail and office space presents a unique opportunity to establish a thriving business in a well-maintained and conveniently located building.

Property profile

Verified
Property type Commercial real estate
Use group COMMERCIAL (GENERAL)
Lot 3.14 ac (136,778 SF)
APN 14-08-201-019
UPID US28-1887917

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • Medical Clinic
  • Alternative Medicine Practice
  • Training Center Tutoring Service
  • Insurance Agency
  • Gym & Fitness Center

Location

7800 Sommer St Peoria, IL 61615-1934
Peoria metro Census 3200 PEORIA, IL METROPOLITAN STATISTICAL AREA
Google Maps

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$345k
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$345k

Owner & transaction history

3 recorded transactions
1969
Price N/A
1969
Price N/A
1969
Price N/A

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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